mousefan73
Germans are faster at dubbing
- Joined
- May 9, 2012
Anyone who gets a paycheck can save.
I assume you have lead a VERY fortunate and shelterd life.. You are so wrong here.
Anyone who gets a paycheck can save.
Anyone who gets a paycheck can save. It may not be a lot, but every dollar counts. Many Americans could save much more if they did not have expensive cell phones, cable TV, high car payments on a car they cannot afford, etc. Savings should be a priority. But too many people depend on credit cards to get them the things they want in addition to the things they need, because they never saved a penny for a rainy day. Saving should be taught early, when a child begins getting an allowance or does little jobs for neighbors, etc.
Not surprising. The Dis isn’t the average American. What’s surprising to me is how many people on here can’t fathom that people are poor and can barely make ends meet so saving for retirement isn’t a priority when they’re worrying about buying groceries.
Not everyone who lives paycheck to paycheck has cable or an iPhone or a car payment or go on vacation. Some people live paycheck to paycheck and barely make it. That’s real life for a big portion of the population.
Have we seen the single parent statistics? When I was a single mom I did not save for retirement. I couldn’t afford it. We also didn’t vacation or eat out and I didn’t have an iPhone. I did have a car payment but that was because the car was almost paid off when we divorced and I would’ve been worse off if I sold it and tried to buy something cheaper.
If you change that to "Most anyone", I'll agree. MOST people have SOME fat in their budget, and MOST people underestimate the importance of saving.Anyone who gets a paycheck can save...
False. Personal finance IS taught in school; it doesn't seem to "stick" because it seems like a vague, academic concept to young people who aren't yet using that information. It's a topic that's more likely to "seem real" if parents teach it at home; that is, if it's connected to the family's real grocery shopping, etc.... Our school system is the second issue, we don't teach personal finances now ...
Statements like these is why most people don’t post on financial threads. This makes a lot of assumptions. If you can save, good for you. But don’t say “everyone who gets a paycheck can save”Anyone who gets a paycheck can save. It may not be a lot, but every dollar counts. Many Americans could save much more if they did not have expensive cell phones, cable TV, high car payments on a car they cannot afford, etc. Savings should be a priority. But too many people depend on credit cards to get them the things they want in addition to the things they need, because they never saved a penny for a rainy day. Saving should be taught early, when a child begins getting an allowance or does little jobs for neighbors, etc.
If you take the bolded back a peg you will probably not get as much resistance. There is certainly a priority issue with most Americans but there are also people who make minimum wage and realistically have nothing left after necessities (food and shelter necessities, not cable/iphone "necessities"). Saying "anyone" gives an easy copout as it's easy to disprove.Anyone who gets a paycheck can save. It may not be a lot, but every dollar counts. Many Americans could save much more if they did not have expensive cell phones, cable TV, high car payments on a car they cannot afford, etc. Savings should be a priority. But too many people depend on credit cards to get them the things they want in addition to the things they need, because they never saved a penny for a rainy day. Saving should be taught early, when a child begins getting an allowance or does little jobs for neighbors, etc.
I feel like a lot of the issue is it's explained (in my experience at least) as being able to balance a checkbook and saving for retirement that is 40+ years away. Nowhere was it discussed how having a few grand in savings makes life much much easier or the impact of compound interest at double digit rates. Then you get hit with marketing and all these pictures of "success" from social media and it's a battle of how quick a person can achieve the image of success.False. Personal finance IS taught in school; it doesn't seem to "stick" because it seems like a vague, academic concept to young people who aren't yet using that information. It's a topic that's more likely to "seem real" if parents teach it at home; that is, if it's connected to the family's real grocery shopping, etc.
I agree with @MrsPete. "most people" might be a better term. But @NannyBeBe is mostly correct. Just talk to credit counselors. Most people with financial problems have them because of their own bad money decisions. The show Til Debt Do Us Part with Gail Vaz-Oxlade really highlighted this. You don't NEED to spend hundred of dollars a month on clothing. You WANT to spend hundreds of dollars a month on clothing. And getting people to recognize the difference between needs and wants is the key.I assume you have lead a VERY fortunate and shelterd life.. You are so wrong here.
If you are dipping into an "emergency fund" often your budget has missing line items. Water heaters break, roofs need replacing, and car insurance is due every 6 months. Those aren't emergencies.Think about the fact that someone with a modest income may be constantly saving to replenish their emergency fund. They save and then have to use the savings. So they start over again.
Yup. I replaced my water heater 21 years ago, so I have had 21 years to save for a replacement. My Heat Pump is 30 years old so I have had 30 years to save for a replacement. Those items could die today, or last for decades. I have an account at the credit union for those type situations. When they fail, getting them replaced will be the hard work, not paying for it.If you are dipping into an "emergency fund" often your budget has missing line items. Water heaters break, roofs need replacing, and car insurance is due every 6 months. Those aren't emergencies.
My life has been far from fortunate and sheltered. I have lived in great poverty with newspaper in my shoes to cover the holes and $12 per week for food. I was able to pay my bills from the money we received as wedding gifts. I have come a long way and am grateful for it. My husband worked 12-hour days for 40 years, never asking anything for himself and saving all that we could so we could help others in need and live debt free.I assume you have lead a VERY fortunate and shelterd life.. You are so wrong here.
What constitutes an emergency then?If you are dipping into an "emergency fund" often your budget has missing line items. Water heaters break, roofs need replacing, and car insurance is due every 6 months. Those aren't emergencies.
What constitutes an emergency then?
Exactly. Many people cannot save for every potential emergency, myself included. So many don’t have a real picture of what it’s like to truly live paycheck to paycheck. Put aside $500 for emergencies then the car breaks down. Start over.Let me help out this conversation. An emergency is money that needs to be spent that your monthly paycheck can't absorb. Obviously, if you lose your job, your emergency fund needs to handle the monthly stuff as well. Most people don't have large enough emergency funds because they're not paid enough.
False. Personal finance IS taught in school; it doesn't seem to "stick" because it seems like a vague, academic concept to young people who aren't yet using that information. It's a topic that's more likely to "seem real" if parents teach it at home; that is, if it's connected to the family's real grocery shopping, etc.
What constitutes an emergency then?
What is an emergency then? If my water heater goes out, my washer breaks, etc the money to pay for it's replacement is going from savings, not my monthly budget. In my monthly budget is an amount that goes into savings.If you are dipping into an "emergency fund" often your budget has missing line items. Water heaters break, roofs need replacing, and car insurance is due every 6 months. Those aren't emergencies.